benefitRFP: Wealth and Benefit Planning Experts

benefitRFP: Wealth and Benefit Planning Experts

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Bob Nienaber, CEO, benefitRFPBob Nienaber, CEO For decades, enterprises have remained perplexed on benefit management planning as it involves numerous corporate laws and a variety of individual tax regulations. Benefit and investment planners face many complications while finding ways to create a plan to recruit, retain, and reward employees. Most often, the issue is the lack of required knowledge of financial instruments. For a long time, solution providers in the financial marketplace have approached customers incorrectly, claiming to solve all the issues in one go around. Organizations need to understand the funding mechanisms and benefit planning that can yield maximum profits for the companies who use executive benefit plans.

With simplicity in wealth management as its core differentiator, benefitRFP eliminates the confusion and obstacles in the benefit planning process with its unique artificial intelligence-based financial planning solutions that help clients identify opportunities in benefit and investment planning to keep them in a profitable position. As a one-stop shop for corporate executive benefits, the company combines various products and services from leading investment and insurance product vendors with robust, cost-competitive administrative solutions. benefitRFP’s tools assist enterprises in understanding their benefit goals and planning to achieve them. “We educate clients and then help them implement their benefit plans to enable them to make decisions and manage them easily,” says Bob Nienaber, CEO, benefitRFP.

A Wholesome Package for Profitable Plans
Being on the forefront of technology in the financial services and investment areas for the past few years, benefitRFP allows enterprises to easily engage with their solutions by plugging in all their information, including commercial insurance, general liabilities, executive benefits, and more, along with their goals into the company’s solutions. “Rather than spending tens of thousands of dollars on different solutions, we enable clients to access a variety of wealth management tools at a onetime fee of 995 dollars. They can start with one diagnostic and then move to a completely different one with the ability to make comparisons,” adds Nienaber. As part of benefitRFP’s solution portfolio, the benefitDIAGNOSTIC™ provides assorted options for retirement financial goals and savings. Enterprises can fill a questionnaire assessing all aspects of their business to gain benefits suited for their team. The tool can also help evaluate 401K’s pension schemes, and insurance. Based on the results of the benefitDIAGNOSTIC™, the company’s benefitMATRIX™ offers the most suitable plans with optimal funding options for each user. benefitRFP also follows department of labour regulations, ERISA, and tax codes to stay away from any lawsuits or customer complaints. “We will find the most suitable funding and benefit products for our clients that guarantee the best results, or we will not move forward. Wealth management plans should never be a cost without a profit attached,” says Nienaber.

Having said that, benefitRFP has devised a program called the benefitHEATMAP™ that compares different insurance products and investment cases based on the client’s information to guide them to the most optimal products giving the best financial results across the board.This has proven to be a powerful technology for clients providing significant savings in their annual plan audits.


We educate clients and then help them implement their benefit plans to enable them to make decisions and manage them easily

“We take a deep dive into all the aspects of financial planning with the clients to bring all the efficiencies together and enable them to utilize their investment or insurance strategy to the T,” explains Nienaber. The Heatmap enables a first-time audit plan of a small company to return about two million dollars to their shareholders, around five million dollars in the case of a mid-size organization, and limitless opportunities for larger firms. “We enable clients to put back the money to the owner’s or shareholder’s pocket or share the improved values with their top executives in the form of additional plan values and move toward the right direction,” says Nienaber.

benefitRFP caters to the needs of organizations and those of individuals who are the participants of various investment or benefit plans. The company’s benefitCONCIERGE™ report shows an annual report card on maximizing their results if they are part of a plan. The report is tailor-made to deliver retirement income calculations for every individual using their current savings plan balances, income, and age to estimate their financial outcome upon retirement. The benefitCONCIERGE™ helps individuals reach their financial goals, eliminate unnecessary taxes, and maximize government benefits. Clients can also find out the worth of their business by using benefitRFP’s online asset value tool, which is the world’s largest of its type. They can easily devise a succession plan and take the right steps to approach the marketplace for acquisitions by getting the right value.

Simplicity at its Best
To assist clients with their ongoing plans, benefitRFP employs a team of case management experts that audit the plans every year to identify and implement product changes. “We assist clients to realize significant cost savings or become more efficient simply by changing their products,” says Nienaber. This service team has won many awards, the latest being the 2021 Go Global Top Service Provider by The International Trade Council. The company manages thousands of different corporate and executive investment and benefit plans for companies and their participants and programs and offers clients a wide variety to choose from. From the first conversation with clients, benefitRFP ensures a straightforward process to show them how the entire process will occur. In addition, the client has access to all plans and products online, eliminating all the lengthy and tedious paperwork, which makes their work seamless and quick.

“As a consultant myself, it is rewarding to see clients turn from having no knowledge to becoming extremely knowledgeable as experts in their wealth management,” he remarks. benefitRFP’s flexible and easy-to-understand approach empowers even a new start-up, bootstrapped by young entrepreneurs that may have little to no experience in insurance and investment benefit plan management, to take the right path. “Our seasoned veterans have assisted numerous clients select programmes that have proven to be most useful for them. As a result, we have good online ratings and high scores without any customer complaints,” extols Nienaber. Rather than employing a large team, benefitRFP believes in hiring a small team that completely understands how to mix AI and general technology with financial and corporate tax rules. “Having a small team gives us a lot of flexibility and agility to quickly build innovative technology without any restrictions,” says Nienaber.

Nienaber cites that client’s usually approach benefitRFP when other benefit plans do not perform well and cannot make the best use of their assets. In most cases, the clients suffer due to inefficiencies created by their broker, who do not have the right tools and knowledge. benefitRFP has assisted these clients in saving millions of dollars by providing them with the right benefit planning and wealth management tools.

The driving goal of benefitRFP is to provide its successful technology on an app setup, where any company, be it large, small, public, private, can use it to do their audits and get the best products to accomplish their benefit planning goals in house. “We believe it is important for clients to build and design their own programs based on their goals rather than depending on other’s advice,” explains Nienaber. On the consultant side, benefitRFP’s technology will aid them to serve ten times more clients by simply getting client information faster and more effectively and then responding to their clients with the proper recommendations.


Within the next 12 months, benefitRFP aims to make its technology available for every company in the U.S., be it large or small. By providing explanatory videos to clients, the company simplifies the use of its technology. “We can explain complex topics in minutes by bringing fun elements like cartoons into it to make it interesting,” adds Nienaber.

benefitRFP aims to produce more informative videos to guide clients on their benefits and insurance programs in a simplistic fashion. “Simplicity has always been key for us and that means simplifying some complex aspects of benefit and insurance planning to alleviate the complications around it,” concludes Nienaber.

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Top 10 Wealth Management Solution Companies - 2021
benefitRFP

Company
benefitRFP

Headquarters
Sacramento, CA

Management
Bob Nienaber, CEO

Description
benefitRFP eliminates the confusion and obstacles in the benefit planning process with its unique artificial intelligence-based financial planning solutions that help clients identify opportunities in benefit and investment planning to keep them in a profitable position. As a one-stop shop for corporate executive benefits, the company combines various products and services from leading investment and insurance product vendors with robust, cost-competitive administrative solutions. benefitRFP’s tools assist enterprises in understanding their benefit goals and planning to achieve them. Being on the forefront of technology in the financial services and investment areas for the past few years, benefitRFP allows enterprises to easily engage with their solutions by plugging in all their information, including commercial insurance, general liabilities, executive benefits, and more, along with their goals into the company’s solutions